XML 45 R28.htm IDEA: XBRL DOCUMENT
v3.25.4

Fair Value Measurements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets Measured on a Recurring Basis | The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
| December 31, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |
Money market funds and cash | $ | 37,541 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,541 |
Certificates of deposit | — |  |  | 5,366 |  |  | — |  |  | 5,366 |
Commercial paper | — |  |  | 14,789 |  |  | — |  |  | 14,789 |
Corporate debt securities | — |  |  | 78,764 |  |  | — |  |  | 78,764 |
U.S. Treasury and agency securities | 84,522 |  | — |  |  | — |  |  | 84,522 |
Total assets | $ | 122,063 |  | $ | 98,919 |  | $ | — |  |  | $ | 220,982 |
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |
Money market funds and cash | $ | 71,335 |  | $ | — |  | $ | — |  |  | $ | 71,335 |
Certificates of deposit | — |  | 5,042 |  | — |  |  | 5,042 |
Corporate debt securities | — |  | 83,955 |  | — |  |  | 83,955 |
U.S. Treasury securities | 67,623 |  | — |  | — |  |  | 67,623 |
Total assets | $ | 138,958 |  | $ | 88,997 |  | $ | — |  |  | $ | 227,955 |
Schedule of Cash and Cash Equivalents | The following table summarizes the estimated value of the Company’s cash, cash equivalents and marketable securities, and the gross unrealized holding gains and losses (in thousands):
| December 31, 2025
| Amortized cost |  | Unrealized gains |  | Unrealized losses |  | Estimated fair value
Cash and cash equivalents: |
Money market funds and cash | $ | 37,541 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,541 |
Certificates of deposit | 5,366 |  |  | — |  | — |  |  | 5,366 |
Total cash and cash equivalents | $ | 42,907 |  |  | $ | — |  |  | $ | — |  |  | $ | 42,907 |
Marketable securities: |  |  |  |  |  |  |
Commercial paper | $ | 14,782 |  |  | 8 |  |  | (1) |  |  | $ | 14,789 |
Corporate debt securities | 78,687 |  |  | 81 |  |  | (4) |  |  | 78,764 |
U.S. Treasury and agency securities | 84,493 |  |  | 45 |  |  | (16) |  |  | 84,522 |
Total marketable securities | $ | 177,962 |  |  | $ | 134 |  |  | $ | (21) |  |  | $ | 178,075 |
| December 31, 2024
| Amortized cost |  | Unrealized gains |  | Unrealized losses |  | Estimated fair value
Cash and cash equivalents: |
Money market funds and cash | $ | 71,335 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,335 |
Total cash and cash equivalents | $ | 71,335 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,335 |
Marketable securities: |  |  |  |  |  |  |
Certificates of deposit | $ | 5,042 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,042 |
Corporate debt securities | 83,855 |  |  | 100 |  |  | — |  |  | 83,955 |
U.S. Treasury securities | 67,404 |  |  | 219 |  |  | — |  |  | 67,623 |
Total marketable securities | $ | 156,301 |  |  | $ | 319 |  |  | $ | — |  |  | $ | 156,620 |
Schedule of Marketable Securities | The following table summarizes the estimated value of the Company’s cash, cash equivalents and marketable securities, and the gross unrealized holding gains and losses (in thousands):
| December 31, 2025
| Amortized cost |  | Unrealized gains |  | Unrealized losses |  | Estimated fair value
Cash and cash equivalents: |
Money market funds and cash | $ | 37,541 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,541 |
Certificates of deposit | 5,366 |  |  | — |  | — |  |  | 5,366 |
Total cash and cash equivalents | $ | 42,907 |  |  | $ | — |  |  | $ | — |  |  | $ | 42,907 |
Marketable securities: |  |  |  |  |  |  |
Commercial paper | $ | 14,782 |  |  | 8 |  |  | (1) |  |  | $ | 14,789 |
Corporate debt securities | 78,687 |  |  | 81 |  |  | (4) |  |  | 78,764 |
U.S. Treasury and agency securities | 84,493 |  |  | 45 |  |  | (16) |  |  | 84,522 |
Total marketable securities | $ | 177,962 |  |  | $ | 134 |  |  | $ | (21) |  |  | $ | 178,075 |
| December 31, 2024
| Amortized cost |  | Unrealized gains |  | Unrealized losses |  | Estimated fair value
Cash and cash equivalents: |
Money market funds and cash | $ | 71,335 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,335 |
Total cash and cash equivalents | $ | 71,335 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,335 |
Marketable securities: |  |  |  |  |  |  |
Certificates of deposit | $ | 5,042 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,042 |
Corporate debt securities | 83,855 |  |  | 100 |  |  | — |  |  | 83,955 |
U.S. Treasury securities | 67,404 |  |  | 219 |  |  | — |  |  | 67,623 |
Total marketable securities | $ | 156,301 |  |  | $ | 319 |  |  | $ | — |  |  | $ | 156,620 |
As of December 31, 2025, the amortized cost and fair value of marketable securities by contractual maturity were as follows:
| December 31, 2025 |  | December 31, 2024
| Amortized cost |  | Estimated fair value |  | Amortized cost |  | Estimated fair value
Maturing within one year | $ | 138,281 |  | $ | 138,395 |  | $ | 143,708 |  | $ | 144,018
Maturing in one to five years | 39,681 |  | 39,680 |  | 12,593 |  | 12,602
Total marketable securities | $ | 177,962 |  | $ | 178,075 |  | $ | 156,301 |  | $ | 156,620
Schedule of Change in the Fair Value of Embedded Derivative Instrument | The following table summarizes the change in the fair value of the embedded derivative instrument for the year ended December 31, 2025 and 2024 (in thousands). There was no activity for the year ended December 31, 2023.
| December 31,
| 2025 |  | 2024
Beginning balance | $ | 570 |  | $ | 849
Loss (gain) from changes in fair value | (139) |  | (279)
Ending balance | $ | 431 |  | $ | 570

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration